'Reasonable prospects' S. Africa's Comair can be saved: Administrators

South Africa’s Comair has “reasonable prospects” of surviving, its administrators said on Tuesday after the airline sought a form of bankruptcy protection earlier this month. Comair, which operates the local BA franchise and budget airline kulula.com, entered a “business rescue” after a lockdown aimed at curbing the spread of the coronavirus forced South African airlines to halt all commercial passenger flights. Comair is not factually insolvent and has assets of 7.4b rand ($407.1m) versus 5.5b rand of liabilities, the company said Tuesday. Its administrators will probably publish a business rescue plan on June 9, it added.<br/>